Pharmaceutical giant to emerge from Takeda-Shire pact

Conor Trindle05 Dec 2018, 14:59 GMT+10

Takeda Pharmaceutical Company Limited on Wednesday announced the results of the shareholder votes at its Extraordinary General Meeting

Takeda's proposal to delegate to the Takeda Board the decision on the terms for the issuance of the new Takeda shares required to implement the proposed acquisition was approved as originally proposed by at least 88% of shareholders

The acquisition remains subject to approval by Shire shareholders at meetings expected to be held later on Wednesday, and to the sanctioning of the Shire scheme of arrangement by the Jersey Court

OSAKA, Japan - Takeda Pharmaceutical Company Limited on Wednesday announced the results of the shareholder votes at its Extraordinary General Meeting on the recommended £45.3 billion acquisition of Dublin, Ireland-headquartered Shire plc.

Takeda's proposal to delegate to the Takeda Board the decision on the terms for the issuance of the new Takeda shares required to implement the proposed acquisition was approved as originally proposed by at least 88% of shareholders.

"We are delighted that our shareholders have given their strong support to our acquisition of Shire," Christophe Weber, President and Chief Executive Officer of Takeda said Wedenesday. "With shareholder approval secured, we are looking forward to closing the acquisition in the coming weeks to create a more competitive, agile, highly profitable, and therefore more resilient company, poised to deliver highly innovative medicines and transformative care to patients around the world."

The acquisition remains subject to approval by Shire shareholders at meetings expected to be held later on Wednesday, and to the sanctioning of the Shire scheme of arrangement by the Jersey Court at a hearing expected to be held on 3 January, 2019.

Subject to shareholder approvals and the sanction of the scheme of arrangement by the Jersey Court, completion of the scquisition is planned for 8 January, 2019.

In addition, Takeda's proposal to appoint three of Shire's existing external directors (namely Ian Clark, Olivier Bohuon and Steven Gillis) to the Takeda Board with effect from closing was also approved by 87% of Takeda shareholders.